September 21, 2020


4 Total CPE Credits


S Corporation Taxation: Advanced Issues

  • Instructor

    Michael Frost

Learning Objectives

  • Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations
  • Describe corporate level taxes, particularly the rules of the built-in gain tax also known as the BIG tax and strategies for lowering the BIG tax
  • Describe the rules governing the redemption and liquidation of an S corporation
  • Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business
  • Be familiar with the results of the case studies that reinforce key learning points

Major Topics

  • Detailed rules governing basis in the shareholder's debt and stock
  • AAA
  • Built-in gains incurred from the sale of assets
  • Redemptions and liquidations
  • Compensation planning for shareholders
  • Tax Cuts and Jobs Act of 2017, particularly the importance of 199A and the conversion of an S corporation to a C corporation (because of the C corporate income tax of a flat 21% and the repeal of the alternative minimum tax for C corporations)

CPE Credits Available

Total CPE

Things to Know About This Course

Course Level

  • Advanced

Professional Area of Focus

  • Tax


Experience in S corporation tax return preparation

Advanced Preparation


Intended Audience

CPAs whose practice includes S corporations and their shareholders


Surgent McCoy CPE

This event has ended.